In everyday life, people are faced with many different types of choices, such as where they live, which job they will work, where kids will be attending school, etc. Further, people are faced with a myriad of choices in healthcare, insurance, and financial areas, such as which insurance policies to select, which insurance policies to avoid, which insurance policies will pay out more, etc.
In addition to other criteria, people making such decisions are interested in comparing one or more aspects of the available choices such as from a financial standpoint, in order to determine which of those policies would most benefit the person and his or her family.
Presently, the selection of insurance policies such as healthcare and disability care are made based on intuition and superficial review of documentation provided by each insurance company about the policies offered. A person often has little information from which to make informed decisions regarding which medical or other insurance policies, for example, would make the most financial sense.
Typically, when faced with a decision such as which medical insurance policy to purchase, a person selects a policy from between two and four policies offered by different companies. Such a decision may be needed, for example, annually, during a time period when an employer offers new insurance policy choices for medical, life, and other insurance.
Insurance companies typically have a wide variety of features to their policies, with each feature having a different effect on the financial bottom line that the person may face during the upcoming policy year. Each of those features affect different policyholders in different ways. A particular feature which benefits a younger family by reimbursing prenatal care costs and other pregnancy related costs might not benefit a more established family having older kids. However, those two families will typically each receive the same information with which to evaluate insurance choices.